CGT Loss on Gifted Shares Disposal

Hi, I gifted a number of Gurnsey domiciled shares in an investment trust company that are traded on the FTSE London to my spouse. My spouse wishes to sell them, and will incur a loss in doing so compared to the price I originally purchased them at. Can my spouse use that loss to offset their other capital gains relating to share disposals? Many thanks

Hi,

Yes, chargeable gains are reduced by any allowable losses accruing to the person in the tax year. You can see guidance here:                                                   

CG15800 - Losses: allowable losses

Thank you.